Fund Manager Reade Griffith Buys Stake in Mediaset Espana Amid Takeover (Reuters)
MADRID (Reuters) – Fund manager Reade Griffith bought a minority stake in Spanish broadcaster Mediaset Espana after its parent company MediaForEurope launched a public takeover offer, a filing to the Spanish stock regulator showed. Griffith, who heads Amsterdam-listed investment fund Tetragon’s Investment Committee, owns a 1.022% stake in Mediaset Espana through financial instruments since Monday, the regulator said on its website.
Hedge Fund Manager Quits USD22m Job to Run for US Senate (Hedge Week)
Hedge fund manager Dave McCormick quit a job that earned him more than $22 million last year to run for the US Senate in Pennsylvania, according to a a report by Federal News Network. The report cites a public financial disclosure document as the source of the information on McCormick’s earnings as CEO of the world’s largest hedge fund Bridgwater Associates.
Tosca’s Ukraine Play (Institutional Investor)
The London-based Tiger Cub is launching a new fund heavily weighted with European bank stocks. One of the longer-tenured but lesser known Tiger Cubs is raising money for a new hedge fund designed, in part, to take advantage of the selloff in European banks in the wake of Russia’s invasion of Ukraine.London-based Toscafund Management, founded by Martin Hughes, is aiming to raise more than $100…
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Why This Analyst Thinks Tesla’s Growth Can ‘Shock Wall Street’ For Several Years (Business Insider)
Tesla Inc. (NASDAQ:TSLA) stock is the best bet for long-term-focused investors, according to an analyst at hedge fund Worm Capital. Tesla Investors In For Superlative Returns: Tesla will likely grow production at least by 50%, on average, through 2030 as opposed to the less than 20% annualized Wall Street forecasts now, Eric Markowitz, Director of Research and Partner at Worm said.
Oaktree, Qatar Investment Inject $260M In BioXcel To Fund Commercialization Of Schizophrenia Med (Benzinga)
BioXcel Therapeutics Inc (BTAI) received strategic financing from Oaktree Capital Management and Qatar Investment Authority (QIA) for gross funding of $260 million. The Company will use the funding to support the commercial activities of Igalmi (dexmedetomidine) sublingual film indicated for the acute treatment of agitation associated with schizophrenia or bipolar I or II disorder.
This Fund Manager Tells How He’s Able To Time The Market (Forbes)
The old investing adage says, “Buy low and sell high,” which should be every investor’s goal. However, many retail investors tend to buy high and sell low as they attempt to time the market but just end up trading on knee-jerk reactions based on news headlines. Virtually every financial publication has the same advice for investors: don’t try to time the market! However, one hedge fund manager boldly claims to be able to do it. The name of his fund, the Systematic Market Timing Fund, even highlights this claim.
Hedge Fund BFAM Loses 10% This Year on China Debt, Ruble Trades (Bloomberg)
BFAM Partners’ multi-billion dollar multistrategy hedge fund lost another 6.2% in March on China credit and volatility trades, including the ruble, said people with knowledge of the matter. The March drop extended the first-quarter decline of the BFAM Asian Opportunities Fund to 9.7%, said the people, who asked not to be identified as the information is private. Its assets under management slipped to $3.6 billion, said one of the people.
Elliot Management to score with AC Milan sale (Hedge Week)
Elliot Management, the hedge fund firm headed by Paul Singer is set to cash in on AC Milan after entering into talks for the sale of the Series A football club for €1 billion, according to a report by Nasdaq.com. Eliot took control of the Rossoneri in 2018 for an effective value of €400 million in 2018 when the club’s Chinese owners defaulted on a €32 million payment. Elliott had previously provided the owners with a €300 million loan.
Tuesday 4/19 Insider Buying Report: BLK, ANNX (Nasdaq.com)
At Blackrock, a filing with the SEC revealed that on Monday, Director William E. Ford bought 3,000 shares of BLK, at a cost of $687.96 each, for a total investment of $2.06M. Blackrock is trading up about 2.3% on the day Tuesday. This purchase marks the first one filed by Ford in the past year. And on Thursday, CEO Douglas Love purchased $146,814 worth of Annexon, purchasing 60,000 shares at a cost of $2.45 a piece. This purchase marks the first one filed by Love in the past twelve months. Annexon is trading up about 6.6% on the day Tuesday. Bargain hunters can bag ANNX even cheaper than Love did, with the stock trading as low as $2.22 in trading on Tuesday which is 9.3% below Love’s purchase price.
Insider Weekends: Mark Peek Purchases $1 Million Worth Of SentinelOne, A Cybersecurity Company + Notable Insider Buys (Benzinga)
Notable Insider Buys: 1. SentinelOne, Inc. (S) : $37.12. Director Mark S. Peek acquired 30,000 shares of this cybersecurity provider, paying $34.40 per share for a total amount of $1.03 million. These shares were purchased indirectly through a trust. 2. Rocket Companies, Inc. (RKT): $9.39. Chief Executive Officer Jay Farner acquired 61,500 shares of this tech-driven real estate, mortgage, and e-Commerce business, paying $9.72 per share for a total amount of $597,710. Mr. Farner increased his stake by 3.80% to 1,681,707 shares with this purchase.
